AvePoint (NASDAQ:AVPT) Earns Buy Rating from Analysts at B. Riley

Key Points

• B. Riley has initiated coverage on AvePoint (NASDAQ:AVPT) with a buy rating and a price target of $25.00, signaling a potential upside of 60.09% from its previous close.
• AvePoint's stock currently has a consensus rating of "Moderate Buy" with an average target price of $20.80, as assessed by multiple analysts.
• Insider transactions revealed significant stock sales, with Director Jeff Epstein selling 500,000 shares for approximately $9.39 million, representing a 30.16% decrease in his stake.

Equities researchers at B. Riley started coverage on shares of AvePoint (NASDAQ:AVPT - Get Free Report) in a research note issued on Tuesday,Briefing.com Automated Import reports. The firm set a "buy" rating and a $25.00 price target on the stock. B. Riley's price objective would suggest a potential upside of 60.09% from the company's previous close.

Several other equities research analysts also recently commented on the company. Cantor Fitzgerald upgraded AvePoint to a "strong-buy" rating in a report on Friday, July 25th. Jefferies Financial Group assumed coverage on AvePoint in a report on Monday, July 21st. They set a "buy" rating and a $22.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on AvePoint from $15.00 to $17.00 and gave the stock a "neutral" rating in a report on Monday, May 12th. Scotiabank lifted their price objective on AvePoint from $19.00 to $22.00 and gave the stock a "sector outperform" rating in a report on Friday, May 9th. Finally, Citigroup dropped their price objective on AvePoint from $19.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $20.80.

AvePoint Stock Performance

Shares of NASDAQ:AVPT opened at $15.6160 on Tuesday. The company has a market cap of $3.31 billion, a P/E ratio of -310.04 and a beta of 1.35. AvePoint has a one year low of $10.65 and a one year high of $20.25. The business's 50-day simple moving average is $17.73 and its 200 day simple moving average is $17.04.

Insiders Place Their Bets

In other AvePoint news, Director Jeff Epstein sold 500,000 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $18.77, for a total transaction of $9,385,000.00. Following the completion of the transaction, the director owned 1,157,891 shares in the company, valued at approximately $21,733,614.07. The trade was a 30.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian Michael Brown sold 35,000 shares of the business's stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.74, for a total value of $655,900.00. Following the transaction, the insider owned 1,190,443 shares of the company's stock, valued at $22,308,901.82. This trade represents a 2.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 570,000 shares of company stock valued at $10,678,950 in the last quarter. 26.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On AvePoint

Institutional investors and hedge funds have recently bought and sold shares of the business. Heck Capital Advisors LLC acquired a new stake in AvePoint in the 4th quarter valued at about $29,000. Versant Capital Management Inc acquired a new stake in shares of AvePoint during the first quarter worth $31,000. Summit Securities Group LLC raised its position in shares of AvePoint by 621.7% during the first quarter. Summit Securities Group LLC now owns 2,627 shares of the company's stock worth $38,000 after purchasing an additional 2,263 shares during the period. Point72 Hong Kong Ltd acquired a new stake in shares of AvePoint during the fourth quarter worth $40,000. Finally, Advisors Asset Management Inc. raised its position in shares of AvePoint by 68.4% during the second quarter. Advisors Asset Management Inc. now owns 2,263 shares of the company's stock worth $44,000 after purchasing an additional 919 shares during the period. 44.49% of the stock is owned by institutional investors and hedge funds.

AvePoint Company Profile

AvePoint, Inc provides cloud-native data management software platform in North America, Europe, Middle East, Africa, and Asia Pacific. It also offers software-as-a-service solutions and productivity applications. The company offers modularity and cloud services architecture to address critical challenges and the management of data to organizations that leverage third-party cloud vendors, including Microsoft, Salesforce, Google, AWS, Box, DropBox, and others; license and support; and maintenance services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.